What is sSTRK?

Introducing sSTRK: Nimbora's Liquid Staking Token (LST)

SUMMARY

What is STRK?Simple overview of how sSTRK worksSTRK Staking on NimboraAdditional resourcesAbout Nimbora

While we talked in previous articles about STRK, vSTRK and sSTRK, in this article we’ll break down sSTRK - what is it, how it works, and why you should stake STRK on Nimbora app.

What is sSTRK?

As we all know, STRK is the official token of Starknet network.

What is sSTRK?
sSTRK (staked STRK) is a liquid staking token (LST) representing STRK staked with Nimbora.

When you stake your STRK tokens on Nimbora, you receive sSTRK in return. The sSTRK token reflects your staked position on Nimbora and acts as a claim on your original STRK.

The beauty of all LST tokens lies in their liquidity - unlike traditional staking, where tokens are locked up, LST will enable users to keep their staked assets liquid and transferable. This means that you will be able to continue to participate in other DeFi activities while your STRK tokens are still earning rewards.

    Simple overview of how sSTRK works

    • You stake your STRK: You start by staking your STRK tokens on Nimbora app.
    • You receive sSTRK: In return for staking, you'll receive sSTRK tokens, which act as proof of your staked STRK. Unlike rebasable tokens, sSTRK increases in value over time as it accrues staking rewards, similar to wstETH. Your sSTRK balance remains constant while its value relative to STRK grows.
    • You earn rewards: While you now hold sSTRK, your staked STRK earns rewards from the network. The value of sSTRK will gradually increase in proportion to these rewards, giving you a passive income stream while retaining flexibility.
    • You maintain liquidity: Unlike traditional staking where your tokens are locked up, sSTRK will enable you to participate in DeFi.
    • You can redeem sSTRK for STRK in two ways:
      1. Fast Exit via Ekubo (Instant)
      - Swap your sSTRK directly for STRK through Ekubo
      - Subject to swap fees and slippage
      - Ideal for users who need quick access to their tokens
      ‍
      2. Default Unstake via Nimbora (21-day period)
      - Standard 21-day unbonding period applies
      - Receive your original STRK plus accumulated staking rewards
      - Recommended for users who can afford to wait and want to avoid swap-related losses, making it a good choice for larger positions.

    sSTRK aligns with Nimbora’s vision of making DeFi accessible to a broader audience and supports the goal of building a thriving DeFi ecosystem on Layer 2.

    As more users adopt sSTRK, they will help secure the Starknet network while contributing to its growth and liquidity, benefiting the entire Starknet community.

    Get ready to stake your STRK on Nimbora 🥩

    The first phase of Starknet staking is about to launch on mainnet! Curious about the STRK staking phases? Check out all four phases of the staking roadmap below! ⬇️

    With Starknet staking soon available on Nimbora, you'll not only be able to stake your STRK and get sSTRK in return while earning rewards, BUT do so much more!

    We can’t wait to tell you more about it!

    More information about this coming 🔜  so stay tuned.

      One thing is for sure...

      sSTRK token is already making waves in the decentralized finance (DeFi) community 🙌  

      If you subscribe to the Nimbora newsletter, you’ll be the first to get the latest ALPHA! You can also join us on our Discord channel to secure your invite and get priority support.

      Starknet Staking: Additional resources

      About Nimbora

      Nimbora is a Starknet-based omnichain 1-click yield strategy platform that enables users to engage with Layer 1 protocols at a fraction of the cost. Discover the best of Ethereum protocols and optimize your DeFi strategies with Nimbora.

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